Why Baby Boomers Still Have a Way to Go Before They Retire

The Baby Boom Generation starts to reach “Peak 65” this year. As CNBC points out, that doesn’t necessarily mean retirement for many of them. That’s because the full Social Security retirement age has been slowly increasing since Congress made changes back in 1983.

For most of the people retiring today, their full retirement age — the age when they may receive 100 percent of the benefits they earned — is somewhere between 66 and 67. And if they can hold off claiming until age 70, they will receive the biggest benefit payments.

The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA) and increased minimum benefits.